Forsyth v. Jim Walter Homes, Inc.

Carley, Judge.

In 1971, appellants Mr. and Mrs. Forsyth contracted to buy a house from appellee home builders. In connection with that purchase, appellants executed a promissory note in favor of appellee, pursuant to which appellants were to make monthly payments. Appellants also executed in favor of appellee a deed to secure debt which required appellants to maintain insurance upon the house. The house was built, and appellants made monthly payments on the note for some years. In 1981, the house was destroyed by fire. The loss was not covered by insurance, as appellants had allowed their…